Which of the Following Represented the Largest Liability on the Balance

question 92

Multiple Choice

Which of the following represented the largest liability on the balance sheet of U.S.commercial banks in 2016?

• A) checkable deposits
• B) loans
• C) nontransaction deposits
• D) borrowings

---

Definitions:

Disaffirm

The act of renouncing or rejecting a legal contract or agreement, typically used in the context of minors disaffirming contracts.

Misrepresenting Age

The act of falsely stating one's age, typically for the purpose of obtaining age-restricted goods, services, or rights.

Disaffirmance

The legal right of a minor to renounce a contract, thereby being freed from any contractual obligations.

Duty

A legal or moral obligation to act or refrain from acting in a certain way.